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State Abbreviation: TX
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MND NewsWire features plain and simple interpretations of industry related data and events written in a manner that maintains the interest of random readers while still catering to the perspective of a housing market professional.

In a press conference on Tuesday, U.S. President George W. Bush thanked members of Congress for its positive response to the housing bill but urged them to enact the plan into law quickly as he feels that more needed to be done before the August recess.

Bush said that Congress should remove the ban on offshore oil drilling following his removal of the executive ban on Monday, blaming democratic members for delaying raising out output.

He also attacked Congress for not passing any of the spending plans put forth.

Despite difficult economic times, Bush also said that the economy was growing albeit not at a rate he wanted, and noted that the banking system was sound.

He also praised U.S. Treasury Secretary Paulson's plans to alleviate pressure on Fannie Mae and Freddie Mac, adding that recent action should calm the markets. He urged Congress to enact Paulson's reform plans quickly.

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